On April 25, 2025, the Senior Special Assistant to the President on Agribusiness and Productivity Enhancement (SSA-AgPE), Dr. Kingsley Uzoma, PhD, and the Special Adviser to the Governor (Central Bank of Nigeria) on Finance & Strategy., Prof. Anthony Ogufere, convened the fourth strategic meeting with their respective teams. The focus was on identifying how Nigeria can leverage current global economic opportunities arising from the ongoing tariff war between the United States and China.
Dr. Uzoma identified soybeans, cashews, and cotton as key commodities with high potential for Nigeria. He emphasized the need for Nigeria to act promptly by developing a policy framework and strategic direction to position itself advantageously in global trade.
Focusing specifically on soybeans, Dr. Uzoma highlighted the production potential in Taraba, Benue, Kaduna, Abuja, and Nasarawa States as capable of meeting Chinese demand. Regarding cotton, he noted that countries like Vietnam, Cambodia, and Bangladesh are experiencing high production costs, creating a window for Nigeria to step in (especially in light of declining global oil prices, reinforcing the urgent need for economic diversification).
On cashew production, Dr. Uzoma stressed the importance of collaboration among producers and the development of clear policies and a strategic roadmap for cashew processing associations. He also noted encouraging progress, with Kaduna State now operational in this regard.
In response, Prof. Ogufere commended Dr. Uzoma for his insightful contributions and affirmed that the CBN would prioritize the information shared, moving swiftly to develop an implementation strategy that aligns with national economic value creation goals.
The meeting concluded with a commitment from the CBN to respond swiftly to the proposed roadmap and policy suggestions, ensuring Nigeria claims its stake in the evolving dynamics of global trade.
Virtual Participation – Nigeria–EU Cocoa Roundtable
August 11, 2025
